NextEra Energy Partners (NYSE:NEP) Posts Quarterly Earnings Results, Misses Expectations By $0.94 EPS

NextEra Energy Partners (NYSE:NEP) released its quarterly earnings data on Wednesday. The solar energy provider reported ($0.43) EPS for the quarter, missing the consensus estimate of $0.51 by ($0.94), Briefing.com reports. The company had revenue of $319.00 million during the quarter, compared to analyst estimates of $332.25 million. NextEra Energy Partners had a net margin of 24.42% and a negative return on equity of 0.40%. The company’s quarterly revenue was up 3.6% compared to the same quarter last year. During the same period in the previous year, the company posted $0.57 EPS.

NextEra Energy Partners Price Performance

Shares of NYSE NEP traded up $0.11 during mid-day trading on Friday, reaching $21.10. The company had a trading volume of 3,137,270 shares, compared to its average volume of 1,467,240. The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.22 and a current ratio of 1.30. NextEra Energy Partners has a one year low of $20.28 and a one year high of $35.15. The firm has a market cap of $1.97 billion, a price-to-earnings ratio of 6.64 and a beta of 1.06. The business’s 50-day simple moving average is $25.44 and its 200 day simple moving average is $27.67.

NextEra Energy Partners Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, November 14th. Shareholders of record on Wednesday, November 6th will be given a dividend of $0.9175 per share. This is a boost from NextEra Energy Partners’s previous quarterly dividend of $0.91. The ex-dividend date of this dividend is Wednesday, November 6th. This represents a $3.67 annualized dividend and a yield of 17.39%. NextEra Energy Partners’s dividend payout ratio (DPR) is presently 113.84%.

Wall Street Analysts Forecast Growth

NEP has been the subject of several recent analyst reports. UBS Group cut their price objective on NextEra Energy Partners from $28.00 to $27.00 and set a “neutral” rating for the company in a report on Monday, September 30th. BMO Capital Markets cut their price objective on NextEra Energy Partners from $28.00 to $26.00 and set an “outperform” rating for the company in a report on Monday, October 21st. Jefferies Financial Group cut their price objective on NextEra Energy Partners from $28.00 to $27.00 and set a “buy” rating for the company in a report on Thursday. Royal Bank of Canada cut NextEra Energy Partners from an “outperform” rating to a “sector perform” rating and dropped their price target for the company from $38.00 to $30.00 in a research note on Monday, July 1st. Finally, Evercore ISI dropped their price target on NextEra Energy Partners from $32.00 to $30.00 and set an “outperform” rating on the stock in a research note on Thursday. Four equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $27.85.

NextEra Energy Partners Company Profile

NextEra Energy Partners, LP acquires, owns, and manages contracted clean energy projects in the United States. It owns a portfolio of contracted renewable generation assets consisting of wind, solar, and battery storage projects. The company owns contracted natural gas pipeline assets. NextEra Energy Partners, LP was incorporated in 2014 and is based in Juno Beach, Florida.